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Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net premiums earned $ 20,398,193 $ 18,494,053 $ 40,620,559 $ 36,295,350
Net investment income 1,540,014 1,246,759 2,980,216 2,456,174
Net realized investment (losses) gains (3,020) 144,012 147,666 68,447
Net unrealized gains on investments 246,970 702,014 1,520,860 1,341,432
Other (loss) income (5,060) 63,878 (10,097) 109,714
Consolidated revenues 22,177,097 20,650,716 45,259,204 40,271,117
Losses and settlement expenses 14,553,068 12,214,486 26,889,996 23,262,167
Policy acquisition costs and other operating expenses 8,081,721 7,444,806 15,744,820 13,794,387
Interest expense on debt 45,905 45,904 91,809 91,304
General corporate expenses 405,923 202,537 606,693 396,211
Total expenses 23,086,617 19,907,733 43,333,318 37,544,069
(Loss) earnings before income taxes (909,520) 742,983 1,925,886 2,727,048
Total income tax (benefit) expense (177,644) 156,494 418,557 562,014
Net (loss) earnings (731,876) 586,489 1,507,329 2,165,034
Other comprehensive loss, net of tax (480,032) (764,329) (1,120,144) 832,024
Comprehensive loss $ (1,211,908) $ (177,840) $ 387,185 $ 2,997,058
Basic:        
Basic net (loss) earnings per share (in dollars per share) $ (0.25) $ 0.2 $ 0.51 $ 0.74
Diluted:        
Diluted net (loss) earnings per share (in dollars per share) $ (0.25) $ 0.2 $ 0.51 $ 0.73
Weighted average number of common shares outstanding:        
Basic (in shares) 2,962,944 2,941,856 2,952,148 2,942,543
Diluted (in shares) 2,988,854 2,969,288 2,978,057 2,969,975
Net premiums earned $ 20,398,193 $ 18,494,053 $ 40,620,559 $ 36,295,350
Net investment income 1,540,014 1,246,759 2,980,216 2,456,174
Net realized investment (losses) gains (3,020) 144,012 147,666 68,447
Net unrealized gains on investments 246,970 702,014 1,520,860 1,341,432
Other (loss) income (5,060) 63,878 (10,097) 109,714
Consolidated revenues 22,177,097 20,650,716 45,259,204 40,271,117
Losses and settlement expenses 14,553,068 12,214,486 26,889,996 23,262,167
Policy acquisition costs and other operating expenses 8,081,721 7,444,806 15,744,820 13,794,387
Interest expense on debt 45,905 45,904 91,809 91,304
General corporate expenses 405,923 202,537 606,693 396,211
Total expenses 23,086,617 19,907,733 43,333,318 37,544,069
(Loss) earnings before income taxes (909,520) 742,983 1,925,886 2,727,048
Total income tax (benefit) expense (177,644) 156,494 418,557 562,014
Net (loss) earnings (731,876) 586,489 1,507,329 2,165,034
Other comprehensive loss, net of tax (480,032) (764,329) (1,120,144) 832,024
Comprehensive loss $ (1,211,908) $ (177,840) $ 387,185 $ 2,997,058